Pricing and promotion are house keys to success

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As we get ready to close out this year, it is safe to say that now is a good time to sell your home.

Based upon real estate activity, agents' comments and local area market statistics, home sellers and home buyers have fared well in 2017.

In the Hilton Head-Bluffton region, for the past 12 months, pending sales were up almost 14 percent. The overall median sales price was $315,000, up about 4 percent from last year. Inventory levels were down about 16 percent and condominium homes boasted the strongest sales.

This has been a great year for residential real estate, with more sales and higher prices. While it is taking longer for homes to sell, inventory is down about 7 percent and homes are selling a bit closer to asking price.

Although buyers are still taking advantage of low prices and interest rates, sellers are feeling more confident that they don't have to give their home away.

With the real estate picture looking brighter, and the economy moving forward, there is a better chance of selling your home faster and for a higher price now and in future months as this up-swing trend continues.

Smart and savvy agents will know the price range of your home. They will rely on their local market experience and the Comparative Market Analysis (CMA) that they prepare for you. This CMA should support the suggested price range for your home and also highlight how your home will be marketed.

You can super-charge the sale of your home by concentrating on the Five P's For Selling Residential Real Estate:

Product: A successful real estate sale begins by having a better product than your competition. Make sure your home sparkles and shines.

Properties: Look carefully at your competition. Preview some of them with your real estate agent. Imagine that you are a buyer. Is your home a top contender?

Perfection: Make sure your house is in mint, move-in condition. Today's buyers have to be wooed.

Promotion: Offer incentives, the right price, a quality home warranty, flexibility on closing and move-in dates - maybe even throw in the golf cart if the price is right! Also, make sure your agent will market your home effectively. Look at the CMA.

Price: You must price realistically. Again, check those CMA's for the optimal price range determination.

Larry Stoller is a broker-owner and Realtor with Real Estate Five of the Lowcountry. Larry@RealEstateFive.com or www.RealEstateFive.com

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